TMC Bank Accounts Frozen: INR 440 Crore Under Scanner as Rebel MLAs Seek Criminal Investigation

In a major escalation of the internal power struggle within the Trinamool Congress (TMC), police have placed a "debit freeze" on three bank accounts belonging to the party. The accounts, held with a private sector bank, contain approximately INR 440 crore. The action follows formal complaints lodged by ten rebel TMC MLAs who are demanding a criminal investigation into the origin and legitimacy of the funds.

The Bidhannagar Police Commissionerate's cyber crime police station ordered the freeze after the group of dissident lawmakers, aligned with Leader of Opposition Ritabrata Banerjee, filed written complaints. The MLAs have questioned the source of the deposits, urging law enforcement to investigate whether the money stems from lawful avenues or illegal activities, including alleged public fund diversions, scam proceeds, and "cut-money" collections. 'We Will Work With NDA Under PM Modi': Rebel TMC Faction Stakes Claim to More Than 2-3rd of Party Strength After Meeting Om Birla (Watch Video).

The freeze restricts all outward transactions and withdrawals from the accounts, though credit operations and incoming deposits remain unaffected. A senior police official confirmed the development, noting that the political party's finances have now been placed under direct criminal scrutiny.

This development follows an intensifying leadership friction within the party following its defeat in the recent West Bengal Assembly elections. The internal division is largely split between a faction backing former minister Aroop Biswas and another supporting Ritabrata Banerjee, with both sides seeking control over the party's organizational and financial framework.

The police action comes just days after Aroop Biswas wrote to the bank requesting a temporary suspension of transactions to safeguard the party's assets—estimated to exceed ₹500 crore—until the leadership dispute is formally resolved. However, the rebel faction's subsequent approach to the police transformed the civil administrative dispute into an active criminal probe. ‘Have Left It to Judgment and Wisdom of Speaker’: Abhishek Banerjee Challenges Legitimacy of Breakaway Faction of 20 TMC MPs (Watch Video).

TMC leaders loyal to party chief Mamata Banerjee acknowledged they were aware of the police action and are awaiting formal communications. Meanwhile, Mamata loyalist and party leader Kunal Ghosh downplayed Biswas's administrative authority, stating that Biswas was replaced as party treasurer by Subhasish Chakraborty during an executive committee meeting on June 5, and therefore no longer holds the mandate to dictate the party's financial affairs.

The situation remains fluid as legal and political experts watch how the freeze will impact the party’s daily operations and its broader standing in West Bengal's changing political landscape.

(The above story first appeared on LatestLY on Jun 20, 2026 03:29 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).